Crescent Energy (NYSE:CRGY) Research Coverage Started at Siebert Williams Shank

Siebert Williams Shank started coverage on shares of Crescent Energy (NYSE:CRGY) in a research report report published on Monday, Marketbeat reports. The brokerage issued a buy rating on the stock.

Other analysts have also recently issued research reports about the company. Truist Financial boosted their target price on Crescent Energy from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Pickering Energy Partners began coverage on shares of Crescent Energy in a research note on Monday, October 28th. They set an “outperform” rating for the company. Wells Fargo & Company cut their target price on shares of Crescent Energy from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Raymond James upped their price target on shares of Crescent Energy from $22.00 to $23.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 23rd. Finally, Stephens increased their price target on Crescent Energy from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $17.50.

Crescent Energy Price Performance

Shares of NYSE:CRGY opened at $15.10 on Monday. The business has a fifty day simple moving average of $15.04 and a 200-day simple moving average of $13.15. Crescent Energy has a 52 week low of $9.88 and a 52 week high of $16.94. The company has a market cap of $3.45 billion, a P/E ratio of 24.35 and a beta of 2.16. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12.

Crescent Energy (NYSE:CRGY) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.28 by $0.11. The company had revenue of $744.87 million during the quarter, compared to analysts’ expectations of $793.88 million. Crescent Energy had a return on equity of 12.53% and a net margin of 2.17%. During the same quarter in the previous year, the business earned $0.35 EPS. Equities research analysts forecast that Crescent Energy will post 0.83 EPS for the current year.

Institutional Trading of Crescent Energy

Several large investors have recently modified their holdings of CRGY. Farther Finance Advisors LLC increased its stake in shares of Crescent Energy by 15,675.0% in the third quarter. Farther Finance Advisors LLC now owns 3,155 shares of the company’s stock worth $35,000 after buying an additional 3,135 shares during the last quarter. Amalgamated Bank grew its holdings in Crescent Energy by 86.4% during the 3rd quarter. Amalgamated Bank now owns 4,903 shares of the company’s stock worth $54,000 after acquiring an additional 2,272 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Crescent Energy by 48.3% in the 4th quarter. GAMMA Investing LLC now owns 4,978 shares of the company’s stock worth $73,000 after purchasing an additional 1,621 shares during the last quarter. Zacks Investment Management acquired a new stake in shares of Crescent Energy in the 3rd quarter valued at about $121,000. Finally, Toth Financial Advisory Corp acquired a new stake in shares of Crescent Energy in the 4th quarter valued at about $131,000. 52.11% of the stock is currently owned by institutional investors and hedge funds.

About Crescent Energy

Crescent Energy Company acquires, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs) reserves. Its portfolio of assets comprises mid-cycle unconventional and conventional assets in the Eagle Ford and Uinta Basins. It also owns and operates various midstream assets, which provide services to customers.